Lucrative Business Opportunities In Nigeria – Nigeria is one of the most vibrant economies in Africa. Still, the country is plagued by numerous problems, one of which is rampant unemployment. This has resulted in large numbers of people pursuing self-employment in the form of large-scale business ventures. Like many other countries, some businesses do better than others due to various factors. What are the best business ideas in Nigeria today?
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Lucrative Business Opportunities In Nigeria
Whether you are looking for a full-time self-employment joint venture or a small scale business in Nigeria to operate as an outside business, there are many businesses that you cannot go wrong with.
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One of the fast growing business opportunities in Nigeria is livestock farming. However, this industry is yet to reach its full potential.
For this business, you will need some patience and knowledge and enlist the services of a livestock rearing specialist. Some of the niche areas you can get into include catfish farming, poultry farming, cattle grazing, goat raising, and snail farming.
It may not be an entirely new idea, but blogging has not been commercialized enough in Nigeria, as it is in more developed countries. When implemented correctly, blogging can easily be one of the most profitable businesses online because of the numerous monetization options.
Being a blogger can be a good source of income from the comfort of your home. All you have to do is find a niche and target the right audience.
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Nigeria has a very vibrant agricultural sector. You can start your own export business if you register with the Export Promotion Council of Nigeria and decide on the specific product you want to export. Some of the products that are in high demand abroad include cassava flakes, cocoa, yam flour, groundnuts, chilli peppers, cashew nuts, mango, and many others.
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Health is something that most people don’t take into account these days. As a result, you can make money if you can turn health and fitness into a business. There aren’t that many well-equipped gyms, especially in small towns.
If you can get your hands on some capital, set up a state-of-the-art gym, and your business will be booming in no time. However, you will need to own or hire someone who has the right skills to train people.
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Are you looking for a lucrative business in Nigeria? Then you should consider entering the mining industry. Nigeria has a lot of mineral resources. Some of the common ones include coal, iron ore, limestone, bitumen, and others. Nigeria’s mining sector continues to grow, paving the way for new investments.
If you have access to a significant outlay of capital, a skilled and knowledgeable staff, and a ready market, you could enter this lucrative industry.
The oil and gas sectors are essential in Nigeria. Most of the country’s tycoons are involved in the sectors in one way or the other. Although it can be quite profitable, the oil industry is also quite expensive to do business. If you have sufficient capital to start a private refinery, you will benefit greatly from numerous government subsidies and other monetary incentives.
You probably spend a lot of time on Twitter, Instagram, Facebook, and other social media platforms. However, you may not know that you can earn money by interacting with your friends and followers online. Monetize your social media accounts by providing a platform for others to advertise their products. For example, if you have a lot of followers on Facebook or YouTube, you can learn how to activate ads and get paid per view.
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If your hobby involves sewing or textiles, and you don’t mind doing it for a living, you should probably try the uniform sewing business. There are plenty of schools in every state, and they all need uniforms for their students. This high demand makes uniform sewing one of the best small business ideas in Nigeria.
In addition, there are also many corporate organizations whose employees also wear uniforms – for example, the security team. After establishing the business, you can promote your venture and make good money from this business.
Writing across various sectors is in high demand today. First, you can look for freelance opportunities online or write for a company that receives assignments from clients. There are many benefits to this job, the main one being the freedom to work from anywhere.
Later, when your business grows, you can hire other writers and start your own small independent company. If you have a way with words and can come up with engaging content, this is among the best businesses you can try.
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An accounting or bookkeeping startup is one of the best business ideas in Nigeria for those who have the skill, of course. But first, you need to become a certified accountant and earn the prerequisite exposure to handle clients effectively.
The call center business is very popular today. There are many people who need help, guidance, advice or want to complain about services or products. So, you can set up a call center/agency and work for big companies on contracts.
Nigeria is suffering from massive unemployment, with millions of people looking for jobs. You By starting a recruitment agency, which will connect job seekers with available opportunities. All you have to do is cooperate with the various companies and individuals who want to hire people.
Your recruitment agency can grow and expand over time, depending on how well you can read the job market.
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The Nigerian beauty industry has recently seen a drastic change with increased demand for cosmetic products and services. And this is a good business opportunity for you to take advantage of. If you set up a beauty salon or barbeque/beauty salon/spa and offer great services, you might find yourself a lot of clients.
Clothing is among the basic human needs. This explains the ever increasing demand for clothing in Nigeria and other countries around the globe. Today, there is still a market for clothes, especially trendy and cheap ones.
You can import clothes from different countries, including China, India, France, Italy, United Kingdom, USA, etc.
With the busy schedules that come with today’s world, people need to take care of their children during the day. Many people are wary of domestic helpers knowing how they can sometimes mistreat children in the absence of their parents. Another option is to take children to a day care center when they are away from home. You can start the business in a small rented room or even in your guest room
Digital Business Ideas To Start In Nigeria
Are you skilled in a particular area and do you feel you could help others develop their skills? Then the personal trainer business is a venture worth thinking about. For example, millions of Nigerians take various academic tests and exams every year and they need someone to help them prepare.
Another example is the large number of people who want to learn how to use different computer programs. If you are proficient in those programs, you can use this knowledge to start your course.
You may not realize how challenging hosting events can be until you find yourself in a situation where you have to plan a party. This explains why most people start hosting events on the side but end up doing it full time.
Many occasions require event planning. These include birthday parties, graduation parties, religious occasions, and even funerals, among many others.
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Waste management is another enterprise that can be quite profitable and has significant potential to align with today’s pollution reduction agenda. The potential of the business lies in the lack of awareness among Nigerians regarding proper waste disposal and management.
Many businesses can be started in this niche, and the best ones are waste disposal, waste recycling, organic fertilizer production, and waste disposal.
The food processing industry in Nigeria is quite huge. You can choose to enter many niches, including frozen food production, vegetable oil production, palm oil processing, yogurt production, tomato puree production, garri processing, rice milling, and fruit juice production.
If you own a car and are looking for a profitable business in Nigeria, you should consider some travel. Car owners can make extra money without disrupting their routines at all by sharing innovative business ideas like ride sharing. For example, you can advertise your car as a taxi and pick up passengers while running your errands. There are modern ride sharing apps that allow you to easily implement this idea.
Lucrative Business To Start In Nigeria 2022
Nigeria has faced major power supply issues due to factors such as a rapidly growing population. As the world transitions to more sustainable and environmentally friendly sources of power, the Nigerian government is creating incentives to encourage alternative sources of power.
This has led to a growing demand for alternative power generators, including solar and wind energy. Money can be made by importing, selling and installing other power equipment.
Photography and cinematography is one of the most attractive business opportunities in Nigeria. These occupations suit
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